An affiliate marketing company can enhance the results of your promotional campaigns for your business this year. You’ll be able to reach niche markets and communities of considerable size without spending too much time and money. You can even discover segments of your target niche markets and audiences that you didn’t know existed. This can provide you with the opportunity to sell more of your newest products and latest offers while encountering very minimal competition and resistance. All these things can result to bigger profits along with an increased likelihood of successfully growing and expanding your business to other more profitable verticals.
But then again, it’s quite challenging to find the right affiliate marketing companies. Generally speaking, this applies to a lot of businesses with different models, target niches and industries. After all, finding the right affiliate partner is like searching for the most suitable business partner. A lot of things need to match, though there should still be areas where your differences can prove to be beneficial for your business development, product creation and promotional campaigns.
Now this matching game isn’t as quick and simple as it sounds. Aside from creating a shortlist of affiliate marketing companies that share the objectives and goals of your business, you need to trim your shortlist down to those with the right type of traffic for your offers. You should also hand-pick those whose content’s highly relevant to your brand and products.
You’ll also need to ensure that your vetting processes and pre-qualification requirements can effectively allow you to filter bad elements like spammers and criminal syndicates. Remember, there are a lot of them out there, and many of them are targeting the affiliate programs of businesses like yours for their illegal activities. Otherwise, you could end up with these top 3 most serious problems when you partner up with the wrong marketing company, as reported by lots of businesses with affiliate programs all around the world this year:
Serious Problems When You End Up Using the Wrong Affiliate Marketing Company
- You can severely taint the reputation of your business across your niche markets. Sometimes beyond repair. That’s because they might be using unethical tactics just to place their affiliate links for your products and offers in front of the largest number of people as quickly as possible. This includes email spamming, indiscriminate social media posting and so on. Some might even have the resources to put up rogue Web properties, fake mobile apps and malicious browser add-ons just to pitch your affiliate offers to unsuspecting users.
- You could lose your ability to receive and process payments from your legitimate users. Don’t forget that businesses with affiliate programs are targeted by criminal groups that steal and cash out credit cards of their victims. Your merchant account provider will also charge you exorbitant fees and penalties for chargebacks and excessive refund requests. Aside from these awful problems, you’ll also end up tainting the reputation of your brand.
- Many of your ideal affiliates might not want to partner up with you at the event of any of the problems mentioned above. That’s because a fully legitimate and seriously effective affiliate company isn’t likely to feel compelled to associate their brand with your business. So instead of ending up with the right partners for your promotional campaigns, you’ll be hard-pressed to get the most suitable ones with the best type of traffic for your latest offers. This can result to a lot of wasted time and money when it comes to your affiliate sourcing campaigns.
To avoid these disastrous issues, you need to implement the most effective tactics into your affiliate sourcing strategies. Here are some of the most helpful ones that are used by many businesses worldwide with successful affiliate programs:
How to Avoid These Top 3 Most Disastrous Problems When Looking for the Right Affiliate Marketing Company
First, ensure that your vetting processes are effective in keeping out bad actors. You can start out with a strict set of pre-qualification requirements that’ll be challenging for the wrong affiliates, spammers and criminal groups to circumvent. These include requiring them to conveniently send copies of valid government-issued identification documents, business registration papers and so on. As for those without a registered business, such as bloggers and social media influencers among others, you can set a certain threshold when it comes to the number of years that they’ve been operating their Web properties and mobile apps, their current traffic numbers and so on. However, strike a balance between being too strict and too loose. Remember, you want to build up your affiliate network at the most reasonable time frame.
Second, closely monitor the campaigns of each affiliate marketing company that passes your vetting requirements. Your affiliate marketing management platform or your payment processor is likely to offer features for you to do this as convenient as possible. For example, relevant features might be tied up with their cookie and commission payout tracking systems. These can enable you to pinpoint the exact places where each of your affiliates is promoting your affiliate offers. You should also keep track of the number of chargebacks and refunds that your affiliates get from their sales orders. If it’s beyond the industry standard or what’s set by your payment processor, then you should consult with them on the best proactive steps to take.
Third, you can set some restrictions when joining your affiliate program. For example, you can accept affiliates that only operate in any of your target countries. You can also set longer commission payout withdrawal periods for new affiliates, which gradually shortens as you begin to establish trust and confidence in what your affiliates are doing to promote your offers. This has been proven to effectively drive away criminal groups and scammers who are just out to cash out stolen credit cards through your affiliate program payment processor.
Keep these things in mind, and you’ll be able to strategically target the right affiliate marketing company to join your network. You can also avoid not just the top 3 most serious problems discussed earlier, but also some of the other more minor problems that can result to poorly created or implemented affiliate sourcing processes and tactics.